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Darrell Duffie

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Darrell Duffie is the Dean Witter Distinguished Professor of Finance at the Graduate School of Business, Stanford University. He is a member of the Financial Advisory Roundtable of the New York Federal Reserve Bank, a fellow and member of the Council of the Econometric Society, a research fellow of the National Bureau of Economic Research, a fellow of the American Academy of Arts and Sciences, and the immediate past president of the American Finance Association.  Duffie's research concerns valuation and risk in financial markets. He is the author, most recently, of  How Big Banks Fail— and What to Do about It and a coauthor of The Squam Lake Report—Fixing the Financial System (both published by Princeton University Press in 2010).

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Recent Commentary

Featured Commentary

Federal Interpretation of Volcker Rule Would Lead to Constraints on U.S. Economic Growth and Recovery

by Darrell Duffievia Stanford Graduate School of Business News
Tuesday, January 17, 2012

Finance professor Darrell Duffie of the Stanford Graduate School of Business proposes alternative capital requirements for banks to eliminate potential unintended consequences of financial reform.

Featured Commentary

After MF Global: how to protect customers’ cash

by Darrell Duffievia Financial Times
Monday, December 5, 2011

Firewall between futures brokers and customer funds needed

The Squam Lake Report: Fixing the Financial System

by Darrell Duffievia Princeton University Press
Monday, June 14, 2010

In the fall of 2008, fifteen of the world's leading economists--representing the broadest spectrum of economic opinion--gathered at New Hampshire's Squam Lake. Their goal: the mapping of a long-term plan for financial regulation reform.

Ending Government Bailouts As We Know Them image cover

Ending Government Bailouts As We Know Them

by Nicholas F. Brady, Darrell Duffie, Joseph A. Grundfest, Richard J. Herring, Thomas M. Hoenig, Thomas Jackson, William F. Kroener III, Charles S. Morris, Kenneth E. Scott, George P. Shultz, Kenneth Spong, Johannes Stroebel, Kimberly Anne Summe, John B. Taylor, Paul Volckervia Books by Hoover Fellows
Monday, March 15, 2010

The American people are clearly upset about the massive government bailouts of faltering organizations and the consequent commitment of taxpayer dollars-as well as the heavy involvement of the federal government in private sector activities.

Featured Commentary

In Defense of Financial Speculation

by Darrell Duffievia Wall Street Journal
Wednesday, February 24, 2010

George Soros, Washington Democratic Sen. Maria Cantwell and others are proposing to curb speculative trading and even outlaw it in credit default swap (CDS) markets. . . .

The Road Ahead for the Fed

The Road Ahead for the Fed

by George P. Shultz, Allan H. Meltzer, Peter R. Fisher, Donald L. Kohn, James D. Hamilton, John B. Taylor, Myron S. Scholes, Darrell Duffie, Andrew Crockett, Michael J. Halloran, Richard J. Herring, John D. Ciorciarivia Books by Hoover Fellows
Tuesday, November 17, 2009

The Federal Reserve is the single most important economic policy institution in the United States. Its recent unprecedented actions and interventions have raised serious concerns in many quarters about inflation, as well as the independence and effectiveness of the Fed.

Darrell Duffie is the Dean Witter Distinguished Professor of Finance at the Graduate School of Business, Stanford University.

How Should We Regulate Derivatives’ Markets?

by Darrell Duffievia Defining Ideas
Tuesday, August 25, 2009

Reformers must rewrite the rules and support the market efficiencies of the derivatives market.

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Derivatives and Mass Financial Destruction

by Darrell Duffievia Wall Street Journal
Wednesday, October 22, 2008

Complex financial products can be useful if regulated properly.